Interim Results

Bezant Resources PLC
27 March 2008


                              BEZANT RESOURCES PLC


Interim Results for the six months ended 31 December 2007

Bezant Resources Plc ('Bezant' or the 'Company'), the AIM listed exploration and
development company with gold and copper assets in the Philippines and gold
assets in Tanzania, today announces its interim results for the six months ended
31 December 2007.


Highlights:

•    Cash Resources

     £4.5 million cash in bank:

     Company fully funded for completion of its current Philippines and
     Tanzania exploration programmes.

     Surplus funds held for further expansion.

     Mankayan Copper-Gold Project, Philippines

•    Acquisition of Asean Copper Investments Limited ('Asean') completed in
     July 2007.

•    Two year drilling programme commenced on schedule in September 2007.

•    0.52% average copper equivalent values ('CuEQ') over the entire 636m
     intersection, reported from first drill hole results in December 2007.
     High grade intersection average of 0.85% CuEQ over 100m, providing
     expansion for the known western extent of the copper-gold deposit.

•    0.60% average CuEQ average values over 384m of intersection, reported
     from second drill hole results in January 2008. High grade intersection
     average of 0.90% CuEQ over 120m, providing expansion for known southern
     extent of the copper-gold deposit.

     Mkurumu Project, Tanzania

     Anglo Tanzania Gold Limited, a wholly owned subsidiary of the Company,
     has now earned in 46% of the Mkurumu Project in Tanzania, with a
     subsidiary of AngloGold Ashanti holding a similar 46% interest and
     Tanzania locals the remaining 8%.


     Board changes

•    Gerry Nealon became Executive Chairman.

•    Bernard Olivier moved to the position of Executive Director and Ronnie
     Siapno appointed as a Non-Executive Director.

•    Clive Sinclair-Poulton and Melissa Sturgess stepped down from their
     positions of CEO and Non-Exceutive Director respectively, to adopt
     consultancy roles and Mark Burchnall moved to a Non-Executive Director
     position.

•    Tony Hopkins retired from the main Board to concentrate on the subsidiary
     company's activities in Tanzania.


Commenting on the interim results, Gerry Nealon, Executive Chairman, said:


'Progress generating assay results from the Mankayan Project's 2007 drilling
programme has been excellent. All historical data has now been digitised and, in
conjunction with results being generated from our ongoing drilling programme,
all of our data is currently being independently assessed for verification
purposes by technical experts from the Snowden Group. We expect to be in a
position to announce a revised JORC Compliant estimate of the Mankayan Project's
copper-gold resource in the second half of the current financial year. In
addition, the Board continues to seek further opportunities for potential
expansion into other promising tenements and exploration licence areas within
Tanzania.'



For further information, please contact:
Bezant Resources Plc                       Tel: [phone]
Gerry Nealon, Executive Chairman           Mobile: [phone]

Strand Partners Limited
James Harris                               Tel: [phone]

Matthew Chandler


Media enquiries:
Threadneedle Communications                Tel: [phone]
Laurence Read/Graham Herring               Mobile: [phone]
Email: [e-mail]




Bezant Resources Plc

Chairman's statement


I have pleasure in presenting the Interim Report for Bezant for the six month
period ended 31 December 2007.


In July 2007, the Company successfully completed its acquisition of Asean Copper
Investments Limited ('Asean') in the Philippines, together with a subscription
to raise approximately £5 million (before expenses). At the same time, the
Company also changed its name to Bezant Resources Plc (formerly Tanzania Gold
Plc) to reflect its geographic expansion. Asean holds a 40% interest in Crescent
Mining and Development Corporation, which in turn holds a MPSA (Mineral and
Production Sharing Agreement) or a Mining Licence covering 534 hectares in the
Mankayan-Lepanto mining district, approximately 240 kilometres north of Manila
in the Philippines. The licence area has already been subject to significant
previous exploration activity, in the order of approximately 45,000 metres of
diamond drilling over 48 holes, with an historic Resource estimate in the order
of 166.5 million tonnes at approximately 0.52% Copper and 0.54 g/t Gold.


A two year drilling and environmental programme for the Mankayan Project had
already been submitted by Asean and approved by both the Mines and Geosciences
Bureau and the Department of Environment and Natural Resource respectively. This
programme is intended to improve the ore body delineation and further define the
Resource to formal JORC compliance via additional diamond drilling of
approximately 11,000 metres over 10 holes, which shall also include a complete
geo technical and metallurgical investigation to supplement the data update.


Two out of the ten proposed holes have been drilled to date. In December 2007,
Bezant reported average copper-equivalent values ('CuEQ') from the first drill
hole of 0.52% over the entire 636m intersection (with 100m of high grade
intersection averaging 0.85% CuEQ), providing expansion for the known western
extent of the copper-gold deposit. Furthermore, our second drill hole averaged
CuEQ values of 0.60% over 384m of intersection (with 120m of high grade
intersection averaging 0.90% CuEQ), providing expansion for the known southern
extent of the copper-gold deposit.


The first two stages of our exploration programme on the Mkurumu Project in
Tanzania also reached fruition during the period. In November 2007, we announced
that AngloGold Ashanti's subsidiary, Ashanti Exploration Tanzania Limited our
joint venture partner, had formally acknowledged conformance to both our
expenditure and environmental commitments within the Joint Venture licence area.
Accordingly, Anglo Tanzania Gold Limited, our wholly owned subsidiary, now holds
46% of the Mkurumu Project, with AngloGold Ashanti retaining a similar 46% and
the remaining 8% being held by Tanzanian locals.






Bezant Resources Plc

Chairman's statement (continued)


Reflecting expenditure on our ongoing exploration programmes within the
Philippines and Tanzania, the Company incurred a loss after tax for the six
month period ended 31 December 2007 of approximately £428,000.


In April 2007, October 2007 and February 2008, a number of board changes were
effected. Dr Bernard Olivier and Mr Ronnie Siapno were appointed as Executive
and Non-Executive Directors of the Company respectively, in line with Bezant's
move into a stage of aggressive exploration in the Philippines. Ms Melissa
Sturgess and Mr Clive Sinclair-Poulton both stepped down from the Board to
assume consultancy roles, due to their other work commitments, having made
valuable contributions towards the Company's transition from an investment
company to that of a fully funded copper-gold exploration company. Tony Hopkins
also retired from the main Board of the Company, but continues as a
Non-Executive Director of the Company's wholly owned subsidiary, Anglo Tanzania
Gold Limited. In addition, most recently, Mark Burchnall has moved to a
Non-Executive position and I have assumed the role of Executive Chairman in
order to actively support Dr Olivier and Mr Siapno, while they push forward with
each of our exploration programmes during 2008.


Once again, I would like to take this opportunity to thank all of our
Shareholders for their continuing support and look forward to reporting further
progress throughout the remainder of 2008.





Gerard Nealon
Executive Chairman
27 March 2008


Interim Financial Information of Bezant Resources Plc

The following interim financial information of Bezant Resources Plc is for the
period from 1 July 2007 to 31 December 2007. The interim financial information
was approved by the Board of Directors on 27 March 2008.

Bezant Resources Plc
Group Income Statement
For the period ended 31 December 2007



                                    Unaudited       Unaudited       Audited
                                    Period ended    Period ended    Year ended
                                    31 December     31 December     30 June
                                    2007            2006            2007
                                    £'000           £'000           £'000
                                                    (as             (as
                                                    restated)       restated)

Continuing operations

Group revenue                       -               -               -

Cost of sales                       -               -               -

Gross profit/(loss)                 -               -               -

Depreciation and amortisation       (1)             -               (1)
Share-based payment expense         (69)            -               (6)
Other administrative expenses       (412)           (228)           (544)

Total administrative expenses       (482)           (228)           (551)

Group operating loss                (482)           (228)           (551)

Interest receivable                 54              8               34

Loss before taxation                (428)           (220)           (517)

Taxation                            -               -               -

Loss for the period                 (428)           (220)           (517)

Attributable to:                    (428)           (220)           (517)

Equity holders of the Company

Loss per share (pence)

Basic & Diluted                     (1.19p)         (1.30p)         (2.50p)







Bezant Resources Plc

Group Statement of Changes in Equity

For the period ended 31 December 2007



                        Share      Share      Other       Retained    Total
                        Capital    Premium    Reserves    Losses      Equity
                        £'000      £'000      £'000       £'000       £'000

Unaudited - period
ended 31 December 2007

Balance at 1 July 2007  987        10,576     686         (5,603)     6,646
Share issues            25         10,326     -           -           10,351
Share issue costs       -          (414)      -           -           (414)
Reversal of placement   -          -          (665)       -           (665)
funds received in
advance
Cost of share-based     -          -          69          -           69
payments
Retained losses         -          -          -           (428)       (428)
Foreign currency        -          -          46          -           46
reserve

Balance at 31 December  1,012      20,488     136         (6,031)     15,605
2007



Unaudited - period
ended 31 December 2006

Balance at 1 July 2006  958        4,180       -          (5,086)     52
Share issues            29         7,008       -          -           7,037
Share issue costs       -          (568)       -          -           (568)
Retained losses         -          -           -          (220)       (220)
Foreign currency        -          -           (6)        -           (6)
reserve

Balance at 31 December  987        10,620      (6)        (5,306)     6,295
2006


Audited - year ended 30
June 2007

Balance at 1 July 2006  958        4,180       -          (5,086)     52
Share issues            29         7,032       -          -           7,061
Share issue costs       -          (636)       -          -           (636)
Cost of share-based     -          -           6          -           6
payments
Placement funds         -          -           665        -           665
received in
advance
Retained losses         -          -           -          (517)       (517)
Foreign currency        -          -           15         -           15
reserve

Balance at 30 June 2007 987        10,576      686        (5,603)     6,646



Bezant Resources Plc

Group Balance Sheet

As at 31 December 2007



                             Notes  Unaudited       Unaudited       Audited
                                    Period ended    Period ended    Year ended
                                    31 December     31 December     30 June
                                    2007            2006            2007
                                    £'000           £'000           £'000
                                                    (as             (as
                                                    restated)       restated)

ASSETS
Non-current assets
Goodwill                     4      4,500           4,500           4,500
Investment in associate      5      5,892           -               -
Investment in joint venture  6      521             317             458
Plant and equipment                 9               4               4
Deferred exploration and     7      49              -               -
evaluation
expenditure                         10,971          4,821           4,962

Current assets
Cash at bank and in hand            4,557           1,660           1,625
Trade and other receivables  8      18              130             196
Other investments            9      200             -               -
                                    4,775           1,790           1,821

Total assets                        15,746          6,611           6,783

LIABILITIES
Current Liabilities
Trade and other payables     10     141             316             137
                                    141             316             137

Total liabilities                   141             316             137

Net assets                          15,605          6,295           6,646

EQUITY
Share capital                11     1,012           987             987
Share premium account               20,488          10,620          10,576
Reserves                     12     136             (6)             686
Retained losses                     (6,031)         (5,306)         (5,603)

Shareholders' Equity                15,605          6,295           6,646



Bezant Resources Plc
Group Cash Flow Statement
For the period ended 31 December 2007



                             Notes  Unaudited       Unaudited       Audited
                                    Period ended    Period ended    Year ended
                                    31 December     31 December     30 June
                                    2007            2006            2007
                                    £'000           £'000           £'000


Net cash outflow from        14     (430)           (226)           (505)
operating activities

Cash flows from
investing activities
Payments for plant and              (7)             (3)             (5)
equipment

Payments to fund exploration        (112)           (79)            (458)

Payments to acquire                 (500)           -               -
investment in associate

Loans to associates                 (278)           (39)            -

Payments to acquire                 (200)           -               -
available-for-

sale investments
Interest received                   54              8               34

Other income                        50              -               -

                                    (993)           (113)           (429)

Net cash outflow from
investing activities

Cash flows from

financing activities
Proceeds from the issue of          4,335           2,436           2,561
shares

Placement funds received in         -               -               665
advance

Share issue costs                   (26)            (442)           (688)

                                    4,309           1,994           2,538

Net cash inflow from
financing activities

Increase in cash and cash           2,886           1,655           1,604
equivalents

Cash and cash equivalents at        1,625           3               3
beginning of period

Effect of foreign currency          46              2               18
translation reserve

Cash and cash equivalents at        4,557           1,660           1,625
end of period



Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007


1. Accounting policies

The principal accounting policies applied in the preparation of these financial
statements are set out below. These policies have been consistently applied to
all the periods presented, unless otherwise stated below.


Basis of preparation


This interim report, which incorporates the financial information of the Company
and its subsidiary undertakings (the 'Group'), has been prepared using the
historical cost convention and in accordance with the International Financial
Reporting Standards ('IFRS') including IAS 34 'Interim Financial Reporting' and
IFRS 6 'Exploration for and Evaluation of Mineral Resources', as adopted by the
European Union ('EU') for the first time. The disclosures required by IFRS 1
concerning the transition from UK GAAP to IFRS are given in Note 15.


These interim results for the six months ended 31 December 2007 are unaudited
and do not constitute statutory accounts as defined in section 240 of the
Companies Act 1985. The financial statements for the year ended 30 June 2007
have been delivered to the Registrar of Companies and the auditors' report on
those financial statements was unqualified and did not contain a statement made
under Section 237(2) or Section 237(3) of the Companies Act 1985.


Basis of Consolidation


The consolidated financial statements incorporate the financial statements of
the Company and its subsidiary undertakings and have been prepared by using the
principles of acquisition accounting, which includes the results of the
subsidiaries from their dates of acquisition.


All intra-group transactions, income, expenses and balances are eliminated fully
on consolidation.


A subsidiary undertaking is excluded from the consolidation where the interest
in the subsidiary undertaking is held exclusively with a view to subsequent
resale and the subsidiary undertaking has not previously been consolidated in
the consolidated accounts prepared by the parent undertaking.


Business Combination


On acquisition, the assets and liabilities and contingent liabilities of a
subsidiary are measured at their fair values at the date of acquisition. Any
excess of the cost of acquisition over the fair values of the identifiable net
assets acquired is recognised as goodwill. Any deficiency of the cost of
acquisition below the fair values of the identifiable net assets acquired (i.e.
discount on acquisition) is credited to profit and loss in the period of
acquisition.The interest of minority shareholders is stated at the minority's
proportion of the fair values of the assets and liabilities recognised.
Subsequently, any losses applicable to the minority interest in excess of the
minority interest are allocated against the interests of the parent.


Investment in associate companies is accounted for using the equity method.


Goodwill

Goodwill is the difference between the amount paid on the acquisition of the
subsidiary undertakings and the aggregate fair value of their separable net
assets. Goodwill is capitalised as an intangible asset and in accordance with
IFRS 3 'Business Combinations' is not amortised but tested for impairment when
there are any indications that its carrying value is not recoverable. As such,
goodwill is stated at cost less any provision for impairment in value. If a
subsidiary undertaking is subsequently sold, goodwill arising on acquisition is
taken into account in determining the profit and loss on sale.




Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007



Exploration and evaluation expenditure

Exploration, evaluation and development expenditure incurred is accumulated in
respect of each identifiable area of interest. These costs are only carried
forward to the extent that they are expected to be recouped through the
successful development of the area or where activities in the area have not yet
reached a stage which permits reasonable assessment of the existence of
economically recoverable reserves. Accumulated costs in relation to an abandoned
area are written off in full against profit in the year in which the decision to
abandon the area is made. When production commences, the accumulated costs for
the relevant area of interest are amortised over the life of the area according
to the rate of depletion of the economically recoverable reserves. A regular
review is undertaken of each area of interest to determine the appropriateness
of continuing to carry forward costs in relation to that area of interest.


Costs of site restoration are provided when an obligating event occurs from when
exploration commences and are included in the costs of that stage. Site
restoration costs include the dismantling and removal of mining plant, equipment
and building structures, waste removal and rehabilitation of the site in
accordance with clauses of the mining permits. Such costs have been determined
using estimates of future costs, current legal requirements and technology on a
discounted basis. Any changes in the estimates for the costs are accounted for
on a prospective basis. In determining the costs of site restoration, there is
uncertainty regarding the nature and extent of the restoration due to community
expectations and future legislation. Accordingly the costs have been determined
on the basis that the restoration will be completed within one year of
abandoning the site.


Revenue


Revenue from the sale of goods (precious metals) is recognised upon production.
Interest revenue is recognised on a proportional basis taking into account the
interest rate applicable to the financial assets.


Share based payments


The Company made share-based payments to certain directors and advisers by way
of issue of share options. The fair value of these payments is calculated by the
Company using the Black Scholes option pricing model. The expense is recognised
on a straight line basis over the period from the date of award to the date of
vesting, based on the Company's best estimate of shares that will eventually
vest.




Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007



Foreign Currency Transactions and Balances


(i) Functional and presentational currency


Items included in the Group's financial statements are measured using Pounds
Sterling ('£'), which is the currency of the primary economic environment in
which the Group operates ('the functional currency'). The financial statements
are presented in Pounds Sterling ('£'), which is the functional currency of the
Company and is the Group's presentation currency.


The individual financial statements of each Group company are presented in the
functional currency of the primary economic environment in which it operates.


(ii) Transactions and balances


Foreign currency transactions are translated into the functional currency using
the exchange rates prevailing at the dates of the transactions. Foreign exchange
gains and losses resulting from the settlement of such transactions and from the
translation at period end exchange rates of monetary assets and liabilities
denominated in foreign currencies are recognised in the income statement.


Transactions in the accounts of individual Group companies are recorded at the
rate of exchange ruling on the date of the transaction. Monetary assets and
liabilities denominated in foreign currencies are translated at the rates ruling
at the balance sheet date. All differences are taken to the income statement.


For the purpose of presenting consolidated financial statements, the assets and
liabilities of the Group's foreign operations are translated at exchange rates
prevailing on the balance sheet date. Income and expense items are translated at
the average exchange rates for the period. Exchange differences arising are
classified as equity and transferred to the Group's translation reserve. Such
translation differences are recognised as income or as expenses in the period in
which the operation is disposed of.


2. Loss per share


The basic loss per ordinary share has been calculated using the loss for the
period of £428,000 (31 December 2006: £220,000, 30 June 2007: £517,000) and the
weighted average number of ordinary shares in issue of 36,131,961 (31 December
2006: 17,064,576, 30 June 2007: 20,714,489).


The diluted loss per share has been calculated using a weighted average number
of shares in issue and to be issued of 36,236,122 (31 December 2006: 17,563,878,
30 June 2007: 19,433,159). The diluted loss per share has been kept the same as
the basic loss per share as the conversion of share options decreases the basic
loss per share, thus being anti-dilutive.



Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007



3. Segmental reporting


For the purposes of segmental information, the operations of the Group are
focused in Tanzania and the Philippines and comprise one class of business: the
exploration, evaluation and development of mineral resources.


The Group's operating loss arose from its operations in both Tanzania and the
Philippines.


4. Goodwill

Group
                             Unaudited        Unaudited        Audited
                             31 December      31 December      30 June
                             2007             2006             2007
                             £'000            £'000            £'000
                                              (as restated)    (as
                                                               restated)

Cost
At periods' / year end       4,500            4,500            4,500

Impairment
At periods' / year end       -                -                -

Net book value
At periods' / year end       4,500            4,500            4,500

Goodwill arose on the acquisition of the Company's subsidiary undertakings.
The Group tests goodwill for impairment if there are indicators that
goodwill might be impaired.


5. Investments in associate accounted for using the equity method of accounting


Group
                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Investment in Crescent       5,614           -               -
Loan due from Crescent       278             -               -
                             5,892           -               -


On 10 July 2007 the Company acquired the entire share capital of Asean Copper
Investments Limited ('Asean'), a 40% shareholder of Crescent Mining and
Development Corporation ('Crescent'), a Filipino company. Asean also holds a
conditional option, expiring in October 2009, to acquire the remaining 60% of
Cresent for a minimal consideration.


Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007


6. Investment in joint venture


Group
                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Investment in Mkurumu        521             317             458
Project


7. Deferred exploration and evaluation expenditure


Group
                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Deferred exploration and     49              -               -
evaluation expenditure

8. Trade and other receivables


Group
                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000


Other receivables            18              130             35
Prepayments                  -               -               161
                             18              130             196


9. Other investments


Group
                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Shares in listed entities    200             -               -


10. Trade and other payables


Group
                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Trade creditors              118             265             63
Other payables               23              51              74
                             141             316             137


Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007



11. Share capital and options


Group
Class      Nominal             Unaudited       Unaudited       Audited
           value               31 December     31 December     30 June
                               2007            2006            2007
                               Number          Number          Number

Authorised
Ordinary   0.2p                690,432,500     690,432,500     690,432,500
Deferred   4p                  7,959,196       7,959,196       7,959,196
Deferred   99p                 625,389         625,389         625,389

Allotted, called up and fully
paid
Ordinary   0.2p                37,162,223      24,024,345      24,524,345
Deferred   4p                  7,959,196       7,959,196       7,959,196
Deferred   99p                 625,389         625,389         625,389


On 10 July 2007, following the Company's Extraordinary and Annual General
Meetings held on 9 July 2007, 12,637,878 new ordinary shares of 0.2p each were
admitted to trading on the Alternative Investment Market ('AIM'). The new
ordinary shares represented:


5,454,545 Acquisition Shares issued as part consideration for the acquisition of
Asean Copper Investments Limited at a price of 91p per share;

6,666,667 Subscription Shares issued to institutional and other investors at a
price of 75p per share to raise £5 million gross (£4.77 million net of
expenses); and

516,666 Fee Shares issued to certain professional advisers in satisfaction of
fees payable for services provided in relation to the Offer for Subscription and
previous corporate services.


Share options


Details of share options outstanding at 31 December 2007 are as follows:

                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             Number          Number          Number

Opening balance              2,197,800       -               -
Granted during the period    -               -               2,197,800
Exercised during the period  -               -               -
Lapsed during the period     -               -               -

                             2,197,800       -               2,197,800


Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007



12. Reserves


Group
Share based payment reserve  Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Opening balance              6               -               -
Share based payments -       69              -               6
charge

Closing balance              75              -               6


Foreign currency reserve     Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Opening balance              15              -               -
Movement in reserve          46              (6)             15

Closing balance              61              (6)             15

Other reserve - for own      Unaudited       Unaudited       Audited
shares                       31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Opening balance              665             -               -
Placement funds received in  -               -               665
advance
Transfer to equity           (665)           -               -

Closing balance              -               -               665


13. Share-based payments


Group


The Group and Company recognised the following charge in the income statement in
respect of its share based payment plans:

                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000


Share-based payment charge   69              -               6


Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007


14. Reconciliation of operating cash flows to net cash outflows from operating
activities

                             Unaudited       Unaudited       Audited
                             31 December     31 December     30 June
                             2007            2006            2007
                             £'000           £'000           £'000

Group operating loss         (482)           (228)           (551)

Depreciation and             1               -               1
amortisation
Share-based payment expense  69              -               6
VAT refunds received         (50)            -               49
(Increase) / decrease in     27              9               (98)
trade and other receivables
Increase / (decrease) in     5               (7)             88
trade and other payables
                             (430)           (226)           (505)


Bezant Resources Plc
Notes to the Interim Financial Information
For the period ended 31 December 2007


15. First time adoption of International Financial Reporting Standards ('IFRS')


The impacts of adopting IFRS on the total equity and loss after tax as reported
under UK Generally Accepted Accounting Standards ('UK GAAP') applicable before
30 June 2007 are illustrated below.


Reconciliation of total equity as presented under previous UK GAAP to that under
IFRS
                                             Unaudited        Audited
                                             31 December      30 June
                                             2006             2007
                                             £'000            £'000

Total equity under UK GAAP                   6,238            6,477
Amortisation of goodwill                     57               169
written back

Total equity under IFRS                      6,295            6,646


Note: A reconciliation of total equity as of 1 July 2006 (the date of transition
to IFRS) is not presented as there are no adjustments.


Reconciliation of loss after tax under previous UK GAAP to that under IFRS

                                             Unaudited        Audited
                                             31 December      30 June
                                             2006             2007
                                             £'000            £'000

Loss after tax as previously                 (277)            (686)
reported
Amortisation of goodwill                     57               169
written back

Loss after tax under IFRS                    (220)            (517)

Explanation of material adjustments to the cash flow statements


There are no material differences between the cash flow statements presented
under IFRS and those presented under previous UK GAAP.


16. Events after the balance sheet date


There has not arisen in the interval between the half year end and the date of
this report any item, transaction or event of a material or unusual nature
likely, in the opinion of the directors of the Company, to effect:

The Company's operations in future financial periods; or

The results of those operations in future financial periods; or

The Company's state of affairs in future financial periods.



17. Availability of Interim Report


Copies of these results are being sent to shareholders, will be available from
the Company's registered office at Quadrant House, Floor 6, 17 Thomas More
Street, Thomas More Square, London E1W 1YW and can also be downloaded from our
website at www.bezantresources.com. Bezant Resources Plc is registered in
England and Wales with company number 2918391.


INDEPENDENT REVIEW REPORT BY THE AUDITORS
TO BEZANT RESOURCES PLC



Introduction

We have been engaged by the company to review the condensed financial statements
in the interim results for the six months ended 31 December 2007 which comprises
the Group Income Statement, the Group Statement of Changes in Equity, the Group
Balance Sheet, the Group Cash Flow Statement and the related notes. We have read
the other information contained in the interim results and considered whether it
contains any apparent misstatements or material inconsistencies with the
information in the condensed set of financial statements.


Directors' Responsibilities

The interim result is the responsibility of, and has been approved by, the
directors. The directors are responsible for preparing the interim results in
accordance with the AIM Rules For Companies.


As disclosed in note 15, the annual financial statements of the group will be
prepared in accordance with IFRSs as adopted by the European Union. The
condensed set of financial statements included in the interim results has been
prepared in accordance with International Accounting Standard 34, Interim
Financial Reporting, as adopted by the European Union.


Our Responsibility

Our responsibility is to express to the Company a conclusion on the condensed
set of financial statements in the interim results based on our review.


Scope of review

We conducted our review in accordance with International Standard on Review
Engagements (UK and Ireland) 2410, Review of Interim Financial Information
Performed by the Independent Auditor of the Entity, issued by the Auditing
Practices Board for use in the United Kingdom. A review of interim financial
information consists of making enquiries, primarily of persons responsible for
financial and accounting matters, and applying analytical and other review
procedures. A review is substantially less in scope than an audit conducted in
accordance with International Standards on Auditing (UK and Ireland) and
consequently does not enable us to obtain assurance that we would become aware
of all significant matters that might be identified in an audit. Accordingly, we
do not express an audit opinion.


Conclusion

Based on our review, nothing has come to our attention that causes us to believe
that the condensed financial statements in the interim results for the six
months ended 31 December 2007 is not prepared, in all material respects, in
accordance with International Accounting Standard 34 as adopted by the European
Union and the AIM Rules For Companies.


UHY Hacker Young LLP
Chartered Accountants
Registered Auditors
London


27 March 2008



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